James Oscar McKinsey (June 4, 1889 – November 30, 1937) was an American accountant,

management consultant Management consulting is the practice of providing consulting services to organizations to improve their performance or in any way to assist in achieving organizational objectives. Organizations may draw upon the services of management consultants ...

, professor of accounting at the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private university, private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park, Chicago, Hyde Park neighborhood. The University of Chic ...

, and founder of McKinsey & Company.Flesher, Dale L. and Tonya K. Flesher.
McKinsey, James O. (1889-1937)
" In ''History of Accounting: An International Encyclopedia,'' edited by

Michael Chatfield Michael Chatfield (1930s-2004) was an American economist, accounting historian, and Emeritus Professor of Accounting at the Southern Oregon University, known for his work on the history of accounting and accounting thought, and particularly for hi ...

and

Richard Vangermeersch Richard G.J. Vangermeersch (born 1940) is an American economist, and Emeritus Professor of Accounting at the University of Rhode Island, particularly known for his ''History of Accounting: An International Encyclopedia,'' edited with Michael Chat ...

. New York: Garland Publishing, 1996. pp. 410–411.

Biography

Youth, education and early career

McKinsey was born in 1889 in Gamma, Missouri, son of James Madison McKinsey and Mary Elizabeth (Logan) McKinsey.Allen G. Debus, ''World Who's Who in Science,'' Marquis Who's Who, Inc. 1968. p. 1148 After attending regular public school, McKinsey initially received training as a

teacher A teacher, also called a schoolteacher or formally an educator, is a person who helps students to acquire knowledge, competence, or virtue, via the practice of teaching. ''Informally'' the role of teacher may be taken on by anyone (e.g. whe ...

at the Warrensburg Teachers College, now

University of Central Missouri The University of Central Missouri (UCM) is a public university in Warrensburg, Missouri. In 2019, enrollment was 11,229 students from 49 states and 59 countries on its 1,561-acre campus. UCM offers 150 programs of study, including 10 pre-profes ...

, where in 1912 he obtained his Bachelor of

Pedagogy Pedagogy (), most commonly understood as the approach to teaching, is the theory and practice of learning, and how this process influences, and is influenced by, the social, political and psychological development of learners. Pedagogy, taken ...

.John J. Kahle. ''American Accountants and Their Contributions to Accounting Thought (RLE Accounting): 1900-1930.'' Routledge, 5 feb. 2014. p. 17 McKinsey continued to study law at the

University of Arkansas The University of Arkansas (U of A, UArk, or UA) is a public land-grant research university in Fayetteville, Arkansas. It is the flagship campus of the University of Arkansas System and the largest university in the state. Founded as Arkansas ...

, where he obtained his law degree one year later, in 1913. In 1914 he studied bookkeeping at the St. Louis University, and started his working career by teaching bookkeeping at St. Louis University. Next McKinsey entered the

, where in 1917 he obtained his BPhil degree. After serving in the U.S. Army in

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

, he returned to the University of Chicago. There in 1919 he obtained his MA in commerce and passed the Certified Public Accountant (CPA) examination, to act as certified public accountant in the State of Illinois.

Further career

In 1917 McKinsey had joined the accounting faculty of the

, and would continue to lecture there on and off until 1935. In 1926 he was promoted to full professor. In the college year 1920-21 he had lectured accounting at

Columbia University Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...

, and in 1921 had joined a private accounting practice. In 1922 he published his first major work, entitled ''Budgetary Control.'' In 1926 McKinsey founded his own consultancy firm, McKinsey & Company, in Chicago, where he served as senior partner until 1935. In 1935 he accepted the appointment as chairman of the board at

Marshall Field & Company Marshall Field & Company (commonly known as Marshall Field's) was an upscale department store in Chicago, Illinois. Founded in the 19th century, it grew to become a large chain before Macy's, Inc acquired it in 2005. Its eponymous founder, Mar ...

, a department store in Chicago, and made Andrew Thomas Kearney managing partner of the Chicago office. In 1936 he was also elected chairman of the

American Management Association The American Management Association (AMA) is an American non-profit educational membership organization for the promotion of management, based in New York City. Besides its headquarters there, it has local head offices throughout the world. It ...

. Flesher & Flesher explained that McKinsey "soon turned Marshall Field's red ink into profit, but he may have done so at the cost of his health. He died of pneumonia on November 30, 1937."

Selected publications

* Hodge, Albert Claire & James Oscar McKinsey,
Principles of accounting
'' Chicago, Univ. of Chicago Press, 1920. * McKinsey, J.O.
Bookkeeping and Accounting, Volume 1
'' Cincinnati: South-Western, 1920. * McKinsey, J.O.
Bookkeeping and Accounting, Volume 2
'' Cincinnati: South-Western, 1920. * McKinsey, James O.
Budgetary control
'' New York: The Ronald Press, 1922. * McKinsey, James Oscar. ''Managerial Accounting.'' Vol. 1. University of Chicago Press, 1924. * McKinsey, James O. ''Business Administration''. South-Western Publishing Co, Cincinnati, Ohio 1924.

References

{{DEFAULTSORT:McKinsey, James O. 1889 births 1937 deaths Deaths from pneumonia in Illinois American accountants American consultants American people of Scottish descent University of Central Missouri alumni University of Arkansas alumni Saint Louis University alumni Saint Louis University faculty University of Chicago faculty Columbia University faculty People from Montgomery County, Missouri McKinsey & Company people